With the beginning of the implementation of the Tax Reform next year – a process that will extend until 2033 – companies are preparing to put into practice important changes in their operations.
The scenario tends to impact not only the work routine, but also the management structure. Financial departments must centralize the organization of the new configuration, which will require great effort from CFOs.
“The changes affect the management and administrative structure of the finance area, and also the controllership of companies. This is a point of utmost importance for the business, which translates into the biggest challenge for CFOs in 2026 and in the following years”, says Ricardo Rochman, professor at the Center for Studies in Finance at FGV EAESP.
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Many publicly traded companies are already advancing these processes. For CFOs, this task force also includes the review of accounting standards to ensure transparency in the reporting of information to the Securities and Exchange Commission (CVM) and the market.
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Taxes as a strategy
In addition to the implementation process, the new rules introduced by the Reform must impose on CFOs a complete review of tax planning. This is the reassessment of a strategic front of the business, which directly impacts the profitability and sustainability of companies.
According to data from the Brazilian Institute of Planning and Taxation (IBPT), companies that adopt effective tax planning can legally reduce between 8% and 20% of their annual tax burden.
“Companies treat taxes as a profit center, not a cost center. The Reform should further increase the search for finance leaders with experience in Tax in the coming years”, says Guilherme Malfi, founding partner of Assetz Expert Recruitment.
Accounting Sciences in focus
An analysis of the list – a survey that brings together the 54 companies that grow the most sustainably in Brazil – points out that Accounting Sciences is one of the bases for training professionals, alongside degrees in Administration and Economics.
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From a more panoramic perspective of the market, the Accounting Sciences course occupies third place in the graduation preference of CFOs, behind Administration and Engineering. The data is part of the research “The profile of the CFO in Brazil in 2025”, by Assetz Expert Recruitment.
“In general, finance leaders seek a broad first degree and complement this training with a second degree or postgraduate degree based on the line of activity that makes the most sense for their career. Choosing to deepen in taxation is strategic, and can be decisive for hiring, especially at this time of changes in tax rules”, says Malfi.
Specialization dictates the direction of finance
The Brazilian financial elite maintains a clear pattern: CFOs are increasingly sector specialists.
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According to profile analysis, more than 70% of financial directors work in the same segment in which they built their careers, reinforcing a logic of vertical specialization: energy recruits energy professionals; retail, retail; banks, of banks.
The message is direct: in the financial sector, in-depth knowledge of the industry is worth more than broad and transversal experiences.
This specialization coexists with a relevant phenomenon — the consistent presence of “house silver”. Around 37.7% of CFOs were already at the company before the promotion, indicating that internal training still matters.
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Even so, the percentage is lower than that observed among CEOs, which suggests that the financial board is more permeable to external competition. In other words, the gateway remains open for talent recruited on the market.
If those promoted internally form an impressive group, long-lived veterans are a rare exception. Only 11% of CFOs have spent more than 18 to 40 years at the same company, a striking contrast with historical patterns of top executives.
The financial career moves faster, driven by market cycles, regulatory changes and internal restructuring. The volatility of the corporate environment also reduces the likelihood of ultra-long trajectories.
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Another striking feature is the growing centrality of the CFO as a company spokesperson. Six out of every 10 executives work in the Investor Relations area, consolidating themselves as the market’s main interlocutors.
The proximity to shareholders, analysts and regulators transformed the role into a strategic communication position. In practice, the CFO is today as responsible for narrative as for numbers.
The training of these executives reinforces the weight of financial institutions in the C-level pipeline. Half of them worked in banks, audits or M&A areas, in a path that shaped analytical reasoning and risk vision.
It’s a classic model: the market forms, companies hire. The combination of controllership, auditing and treasury continues to function as a privileged gateway to the top of the function.
Finally, the renewal of the chair signals a C-level in transformation. Around 25% of CFOs took office in 2024 or 2025, indicating an accelerated turnover cycle in financial command.
Rotation accompanies technological changes, rising governance expectations and pressure for efficiency. The market message is clear: there is no more room for stagnation.
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